2,502 Shares in AppLovin Corporation $APP Acquired by Anderson Financial Strategies LLC

Anderson Financial Strategies LLC purchased a new stake in AppLovin Corporation (NASDAQ:APP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,502 shares of the company’s stock, valued at approximately $1,798,000. AppLovin accounts for about 1.1% of Anderson Financial Strategies LLC’s holdings, making the stock its 19th largest holding.

Other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its position in shares of AppLovin by 31.5% during the second quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock worth $1,627,000 after purchasing an additional 1,114 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in AppLovin during the 3rd quarter worth $2,514,000. Mediolanum International Funds Ltd increased its stake in AppLovin by 73.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after buying an additional 32,510 shares during the period. Thames Capital Management LLC lifted its holdings in AppLovin by 114.8% in the 3rd quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after buying an additional 8,925 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in AppLovin by 14.8% in the 3rd quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock valued at $84,160,000 after buying an additional 15,074 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the completion of the transaction, the chief executive officer directly owned 2,553,161 shares in the company, valued at $1,328,384,136.69. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 340,336 shares of company stock valued at $200,062,623 over the last quarter. Insiders own 13.66% of the company’s stock.

AppLovin Stock Down 4.4%

Shares of NASDAQ:APP opened at $461.79 on Wednesday. The company’s fifty day moving average is $631.92 and its two-hundred day moving average is $570.29. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61. The stock has a market capitalization of $156.06 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.59 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.34 by $0.11. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company’s quarterly revenue was up 68.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. Equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APP shares. Royal Bank Of Canada increased their price target on AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Piper Sandler reaffirmed an “overweight” rating on shares of AppLovin in a research report on Tuesday, January 20th. Wedbush increased their target price on AppLovin from $745.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Jefferies Financial Group lifted their price target on shares of AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $706.45.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.